Italy Tanks 5%, As PIGS Turn In Another Huge Down Day

The Business Insider ^ | 5-6-2010 | Gregory White

[blam]

Italy Tanks 5%, As PIGS Turn In Another Huge Down Day

Gregory White
May. 6, 2010, 11:54 AM

Greek debt contagion continues to wreak havoc on European markets today, with several PIIGS indices getting whacked today.

Italy's FTSE MIB, down over 5%:

Spain's IBEX, down over 3%:

[snip]

[blam]

The DJIA is down 76 as I post. See here.

[newfreep]

What’s up with Ireland? I thought they were the Euro leader in economic growth.

[moose2004]

blam, thanks for your economic posts, they are very informative.

[blam]

Gold Blows To New Highs In Euros, Pounds, And Swiss Francs

[blam]

You're welcome.

Your Guide To All The Countries That Are One Riot Away From Becoming Greece

[equalitybeforethelaw]

Man those charts look eerily familiar. I wonder why?

[colorado tanker]

It's sad to see Great Britain spoken of as a “G.” Thatcher's reforms left Britain with one of the most dynamic economies in Europe, but Labour has run it into the ground with reckless spending. I liked Blair's stand on the war on terror, but to keep his lefty base happy he just kept handing out the goodies.

[Parley Baer]

I have 3 positions in gold. Bullion on hand. SPDR gold stock. An undeveloped gold mine with proven reserves.

[agere_contra]

What’s up with Ireland? I thought they were the Euro leader in economic growth.

It was smoke and mirrors. Any country that relies on the EU to build its main roads (e.g. the link between Dublin and Dublin airport) is not in any sense a first-class economic power.

[PapaBear3625]

One factor against a bailout of Greece is that Spain, Italy, and the rest would soon follow, and the cupboard would be bare of any bailout money for them too.

[cornfedcowboy]

Just an amatuer’s investment advice: You might want to steer away from SPDR gold. It is my understanding that it is just paper traded and the physical gold is not on hand. Several ETF’s out there that have the physical gold in the vault.

[Presbyterian Reporter]

Gold and the US Dollar/Bonds seem to be the only safe haven as the markets disect Greece and the other PIGS.